Motorola gets $2 billion five-year revolver at Libor plus 100-200 bps

By Susanna Moon

Chicago, June 2 - Motorola Solutions, Inc. obtained a $2 billion five-year revolving credit facility with a $500 million letter-of-credit sublimit, according to an 8-K filing with the Securities and Exchange Commission.

Interest on the loans will be Libor plus 100 basis points to 200 bps based on the company's rating. The commitment fee ranges from 10 bps to 30 bps.

The company entered into a new revolving credit agreement with J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., BofA Merrill Lynch and Goldman Sachs Bank USA as the joint lead arrangers and joint bookrunners.

Citibank, NA is the syndication agent. Deutsche Bank Securities Inc. and Bank of America, NA are the documentation agents. JPMorgan Chase Bank, NA is the administrative agent.

The facility includes two one-year extension options.

The revolving agreement allows the company to borrow syndicated loans and money market loans for general corporate purposes.

In addition, the company may increase the aggregate commitments under the agreement to $2.75 billion with additional commitments.

The facility matures on May 29, 2019.

The communications technology company is based in Schaumburg, Ill.

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